New Australian report finds the future sounds good for digital audio

The future’s sounding good for digital audio, according to IAB Australia’s latest Audio State of the Nation report.

It found 90% of agencies have used audio advertising this year, with 83% of media agencies including streaming digital audio advertising as a significant or regular part of their activity.

The report also found agencies plan to increase their investment in streaming audio (61%) and podcasts (64%) over the coming year.

Sophisticated targeting and personalisation, standardising ways to measure incremental reach, attribution, and cross-platform effectiveness along with improving programmatic supply were identified by respondents as the greatest opportunities for audio digital advertising growth.

Ad buyers also identified the use of AI, particularly around content and ad creation, as a potential driver of future growth in digital audio and podcast advertising.

Brand building was again named as the dominant campaign objective for media agencies using digital audio advertising.

Entertainment and lifestyle podcasts were the most popular genre for agency advertisers, with buyers also expressing a preference for advertising in Australian podcast content.

CEO of IAB Australia Gai Le Roy says “Over the last 12 months, digital audio and podcasting has been one of the fastest growing areas of the digital advertising ecosystem.”

“The results in the latest Audio Advertising State of the Nation Report indicate that this will continue throughout 2024. With buyers appreciating the complementary nature of audio with other digital opportunities, we are likely to see digital being increasingly included in omni-channel campaigns and welcoming a range of new advertisers to the power of audio advertising.”

Richard Palmer, Co-Chair of the IAB Audio Council and Director of Marketing Development (APAC) at Triton Digital, says “There’s no doubt the future sounds good for audio digital with most advertisers now consistently considering digital audio advertising to reach highly engaged audiences.”

The Audio Advertising State of the Nation Report is a collaborative industry project, supported by 15 different media and tech companies, as well as industry body Commercial Radio & Audio (CRA).

It covers usage and attitudes to advertising in broadcast radio, streaming digital audio, DAB+ and podcasts.